Housing Prices Holding Inflation Up, Bank of Canada Head Says

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Housing Prices Holding Inflation Up, Bank of Canada Head Says

Housing prices are the biggest contributor to inflation in the country, says Bank of Canada Governor Tiff Macklem. Current housing prices are an important factor in holding inflation levels up, Mr. Macklem told the House Finance Committee May 2, noting that immigration has led to a rent inflation increase of 8 percent. “Housing cost inflation is the biggest contributor to overall inflation,” Mr. Macklem said. “And it is certainly is an important…